Economy
The main industries on the island are crofting and sheep farming, where unique North Ronaldsay sheep are largely farmed collectively. Tourism also plays an important role. The island has a population of 60, roughly half of whom are descended from native islanders and half are new islanders, who have come to live there. There is great interest in attracting new families with young children in order to keep the school open, since that is vital for the economy.
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Famous quotes containing the word economy:
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)